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Yunus Centre Press Release (September 26, 2018)
On September 24, 2018, Nobel Laureate Professor Muhammad Yunus was a keynote speaker in a meeting of “SDG Costing & Macroeconomics: Spending Needs for Achieving Selected SDGs” held at UNHQ during his visit to the 73rd United Nations General Assembly held at New York, USA. The event was sponsored by H.E. Ms. Amina J. Mohammed, Deputy Secretary General and hosted by Jeffery Sachs, Director, Sustainable Development Solutions Network (SDSN).
The event was organized to bring together Policymakers, International Organizations, Academia, Civil Society and the private sector under one roof to share knowledge on how to close financial gaps for the SDGs, particularly for the low-income and lower middle income countries. Participants presented recommendations for mobilizing a multi-sector approach to financing the SDGs.
Jeffrey Sach presented the financial gap to fill to achieve SDGs by 2030.
Yunus highlighted the institutional dimension of finance. In most of the cases it is not the amount of money, it is delivering the money to the right people and right places. He told that financial system denies financial services to poor people for no good reason.
He advocated separate financial system for the poor. He advocated creation of social business venture capital fund to turn unemployed young people into entrepreneurs. Important thing is the use of the money. He said reducing inequality is a SDG obligation. Instead we are merrily rushing to more and more inequality everyday everywhere without taking any serious step about it. It is not about finance, it is about making sure finance flows to the poor people in a sustainable way by creating right institutions. Charity doesn't help the poor ultimately.
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